they are clearly banking on a counter offer. As a hedge fund...

they are clearly banking on a counter offer. As a hedge fund they are not looking for a 1 or 2 c arbitrage to carry this stock for 3-4 months that is for sure!

As noted they did very well on Pure so lets hope their ears to the ground in the Aussie CSG sector are telling them that another bidder will join the BOW party. I very much like the fact they are getting a sizeable stake and will have the potential to impact eh 15% rule if they can find a friend or two or throw their vote behind a counter bidder!